Category Archive for: ‘Regulatory action’

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Picasso, diamonds and gambling – where are things up to on the 1MDB scandal?

1Malyasia Development Berhad (“1MDB”) has made international headlines again with international celebrities continuing to be embroiled in the scandal. We …

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Buying an SFC-licensed entity? 5 things you should know

On 2 June 2017, the Securities and Futures Commission (SFC) issued a circular about responsible officers and substantial shareholders (June Circular).  …

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Large financial penalties spread to the Antipodes – global trends in AML/CTF enforcement

Multi-million (and billion) dollar fines for AML/CTF breaches are no longer the preserve of United States and United Kingdom. In …

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The rise of anti-RegTech?

In this post, we describe a recent example of technology allegedly being used to evade regulations and frustrate regulators – a …

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Momentum building: SFC AML/CTF action provides practical guidance for securities firms

We are now starting to see signs of momentum building on AML/CTF enforcement cases in Hong Kong.   With it, there …

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10 months on, Panama Papers heat up again with senior lawyers arrested

The founders of Mossack Fonesca, the law firm at the centre of the Panama Papers scandal, have been arrested. The …

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China strengthens action against telecommunications fraud

The past few months have witnessed the rise of a strengthened anti-telecommunication fraud force throughout Mainland China. The efforts are geared …

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China “nudes-for-loans” scandal gives new meaning to “predatory lending”

Low value, personal loans have often been the subject of regulatory enquiry.  Whether it be high interest rates, unclear disclosures …

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Bank shutdown – the new frontier of AML/CTF regulation

The Money Authority of Singapore’s recent announcement that it intends to withdraw BSI Bank Limited’s licence highlights the potentially severe …

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SFC suspensions put new communication technologies under the spotlight

Two recent disciplinary actions taken by Hong Kong’s Securities and Futures Commission (“SFC”) emphasise the importance of effective employee monitoring …

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